Charlottesville, VA—22902
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Charlottesville, VA
As of Oct '25, the median home price in Charlottesville, VA is $481,000, with a year-over-year change of 1.0%. This indicates that home prices in Charlottesville, VA are increasing. According to Zillow, the 1-year price projection is 1.2%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $481,000 | 1.0% |
| Single Family | $487,000 | 0.8% |
| Condos | $385,000 | 0.3% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | $272,000 | -1.8% |
2 Bed | $390,000 | 0.3% |
3 Bed | $472,000 | 0.6% |
4 Bed | $583,000 | 2.3% |
| 5 Bed | $777,000 | 2.5% |
% of Housing Stock
Rental Trends — Charlottesville, VA
As of July '25, Rentcast reports the average rent in Charlottesville, VA is $2,230, with a year-over-year rent change of 2.3%. Per bedroom, the median rent as of July '25 in Charlottesville, VA is studios: $1,940, 1-bedrooms: $1,590, 2-bedrooms: $1,960, 3-bedrooms: $2,720, 4-bedrooms: $3,140. The most common rental property sizes in Charlottesville, VA are 2-bedroom and 1-bedroom, accounting for 39.0% and 30.2% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,950 | $2,230 |
| Studio Rent | $1,950 | $1,940 |
| 1 Bed Rent | $1,640 | $1,590 |
| 2 Bed Rent | $1,850 | $1,960 |
| 3 Bed Rent | $2,650 | $2,720 |
| 4 Bed Rent | $2,800 | $3,140 |
% of Rental Stock
Property Listings — Charlottesville, VA
As of Oct '25, Realtor.com reports that the median days on market for a home in Charlottesville, VA is 49. This is a decrease of -7.0% from last year, suggesting that homes are sitting on the market shorter than last year. The percentage of listed homes with a reduced price is 26.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $512,000 | -13.0% |
Listing Count | 137 | 33.0% |
| Listings as % of Homes | 0.8% | 33.0% |
Days on Market | 49 | -7.0% |
Demographics — Charlottesville, VA
As of the latest ACS Survey released in 2023, Charlottesville, VA has a population of 24,400, which has remained stable by -0.6% over the past 5 years. Charlottesville, VA is a moderately popular place for families, as children make up 18.9% of the population. The area has a highly educated workforce, with 56.9% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 19.3% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 24,400 | -0.6% |
% Under 18 | 18.9% | 1.1% |
% Seniors | 14.9% | 16.4% |
% WFH | 19.3% | 216.4% |
% w/ College Degree | 56.9% | 22.4% |
As of the latest ACS Survey released in 2023, Charlottesville, VA is a predominantly white area, with 68.7% of the population identifying as white. The white population has grown by 0.1% in the last 5 years. The second most common race or ethnicity in Charlottesville, VA is black, making up 11.7% of the population. Foreign-born residents account for 12.2% of the population in Charlottesville, VA, and this percentage has increased by 15.1% as of the ACS Survey 5 years prior, suggesting more immigrants are calling the area home.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 68.7% | 0.1% |
% Black | 11.7% | -24.5% |
% Hispanic | 11.3% | 15.3% |
% Asian | 5.0% | 38.9% |
% Foreign Born | 12.2% | 15.1% |
Mortgage and Risk — Charlottesville, VA
According to HUD data as of 2023, there were 356 mortgage originations in Charlottesville, VA, of which 90.0% of loans were conventional mortgages. The average loan-to-value was 67.0%, with 22.0% above 90% LTV (very high). This implies large mortgage risk in Charlottesville, VA. Investor activity is low, as 2.0% of loans were by investors. 6.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 356 |
% Conventional Loans | 90.0% |
% Government Loans | 10.0% |
% Investor Loans | 2.0% |
% Second Loans | 2.0% |
% Cash Out Refinance | 6.0% |
Loan Activity
Rentals and Section 8 — Charlottesville, VA
As of 2024, the percent of homes in Charlottesville, VA under the Section 8 program is 11.5%. This is considered low, suggesting that the neighborhood is sparsely composed of Section 8 homes. Section 8 opportunity is good when HUD pays more than market rent. 2-bedroom and 4-bedroom units appear to be good home sizes to consider for Section 8 housing in Charlottesville, VA, because HUD payments exceed market rent, while 1-bedroom and 3-bedroom units do not.
Section 8 Market Size
Total Units under HUD | 821 |
Total Units Section 8 | 639 |
% Rentals under Section 8 | 11.5% |
% Occupied Section 8 | 84.6% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | -$40 | $1,640 | $1,600 |
| 2 Bedroom | $10 | $1,850 | $1,860 |
| 3 Bedroom | -$330 | $2,650 | $2,320 |
| 4 Bedroom | $20 | $2,800 | $2,820 |
Affordability — Charlottesville, VA
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 4.8 |
| Median Home Price | $481,000 |
| Median Household Income | $91,200 |